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New CEO at LDC as Martin Draper assumes Deputy Chairman role

9 Dec 2020

LDC, the leading mid-market private equity firm, has appointed Toby Rougier as CEO from 1st January 2021. He takes over from Martin Draper who becomes Deputy Chairman. Mr Draper, who first joined the firm 18 years ago, will also remain Chairman of LDC’s Investment Committee.

Mr Rougier joins from Lloyds Banking Group, where he is Group Corporate Treasurer. He has been a Non-Executive Director on LDC’s board for the last three years. In his earlier career, Mr Rougier spent eight years as Managing Director of Corporate Banking at Santander and eight years as a Consultant at McKinsey.

During his seven years as CEO, Mr Draper led some of the firms most successful investments, including the recent partnership with leading global technology platform NBS and LDC’s transformational partnership with The NEC Group. Under his leadership, LDC has generated proceeds of £5.2bn, invested over £2.3bn of capital and completed more than 400 transactions – the most successful and active period in the firm’s 40-year history.

Mr Draper has also driven the development of the firm’s UK-wide regional network, creating depth and breadth by investing in the teams across LDC’s well-established offices, and opening new locations including Newcastle and Cardiff. He also established LDC’s Backing Youth Ambition partnership with The Prince’s Trust to help 1,200 young entrepreneurs across the UK to start their own business.

Toby Rougier said: “Firstly, I’d like to thank Martin for his significant contribution to the success of LDC. Along with his experienced team, Martin has built one of the most respected and consistently high-performing private equity firms in the UK, and a great platform for the future. I’m grateful he will continue to guide our business strategy as Deputy Chairman.

“LDC has backed more than 650 management teams through economic cycles and shocks over almost 40 years. Having been on the board of LDC for the last three years, I’ve come to appreciate the value of its approach and culture, as well as its unique position within Lloyds Banking Group.”

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I’m looking forward to building on the firm’s performance and continuing to back the ambitions of the UK’s small and mid-sized companies, as part of the Group’s wider Helping Britain Prosper plan.”
Toby Rougier

Martin Draper added: “I’m proud of everything we’ve achieved at LDC; the performance and growth we have delivered over the last seven years, through over 400 transactions, has been exceptional. The opportunity to work alongside high-calibre management teams, and to help them achieve their own ambitions has been particularly rewarding.

“Our success is down to the investment in our relationships and networks across all the regions, the strength of our teams and the commitment of the management teams we support. With Toby’s leadership and our experienced teams right across the UK, I know the business is set for even greater success.”

With 12 regional locations across the UK, LDC has completed more than 40 new investments and portfolio company acquisitions in 2020 to-date. As part of Lloyds Banking Group, LDC has £1.2bn of capital available to invest in supporting the ambitions of UK mid-market management teams during the next three years.

Mr Rougier’s appointment is subject to the usual regulatory approvals.